Inside Ground Zero Of Canada's Recession | Zero Hedge

Inside Ground Zero Of Canada's Recession | Zero Hedge

In the past year, we have extensively profiled the collapse of ground zero of Canada's oil industry as a result of the plunge in the price of oil, in posts such as the following:

• "Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years"
• "Canada's Biggest Oil Casualty To Date: Calgary's Nexen Shutters Oil Trading Desk"
• "The Canadian Housing Bubble Has Begun To Burst"
• "Canada's Oil Patch Confidence Crashes"
• "Canada Mauled by Oil Bust, Job Losses Pile Up – Housing Bubble, Banks at Risk"
• "The Stage Is Set For A Massive Housing Market Correction in Canada's Oilpatch"

Since then it has gotten far, far worse for Canada. In fact, as of September 1 it culminated with the first official recession in 7 years.

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